Peapack Gladstone Financial Corp Sells 1,938 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Peapack Gladstone Financial Corp cut its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF) by 25.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,713 shares of the company’s stock after selling 1,938 shares during the period. Peapack Gladstone Financial Corp’s holdings in Brighthouse Financial were worth $257,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BHF. UMB Bank n.a. lifted its holdings in shares of Brighthouse Financial by 974.1% during the 3rd quarter. UMB Bank n.a. now owns 623 shares of the company’s stock worth $28,000 after acquiring an additional 565 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Brighthouse Financial by 989.5% during the third quarter. Venturi Wealth Management LLC now owns 621 shares of the company’s stock worth $28,000 after purchasing an additional 564 shares during the last quarter. CWM LLC boosted its holdings in shares of Brighthouse Financial by 29.4% in the 3rd quarter. CWM LLC now owns 1,491 shares of the company’s stock worth $67,000 after purchasing an additional 339 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Brighthouse Financial by 97.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,729 shares of the company’s stock worth $78,000 after purchasing an additional 855 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Brighthouse Financial during the 2nd quarter valued at about $89,000. Institutional investors own 81.24% of the company’s stock.

Brighthouse Financial Trading Up 1.8 %

Shares of BHF opened at $49.68 on Tuesday. The firm has a fifty day simple moving average of $49.55 and a two-hundred day simple moving average of $46.24. Brighthouse Financial, Inc. has a twelve month low of $40.00 and a twelve month high of $54.73. The stock has a market capitalization of $2.95 billion, a P/E ratio of -2.44 and a beta of 1.06. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.56.

Brighthouse Financial (NASDAQ:BHF) last posted its earnings results on Thursday, November 7th. The company reported $3.99 earnings per share for the quarter, missing analysts’ consensus estimates of $4.50 by ($0.51). Brighthouse Financial had a positive return on equity of 23.54% and a negative net margin of 24.40%. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the prior year, the company posted $4.18 earnings per share. On average, research analysts anticipate that Brighthouse Financial, Inc. will post 18.47 EPS for the current year.

Analyst Ratings Changes

BHF has been the subject of several research reports. Piper Sandler upped their target price on Brighthouse Financial from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company increased their target price on shares of Brighthouse Financial from $40.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, October 10th. Finally, Barclays boosted their price target on shares of Brighthouse Financial from $48.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $51.13.

Insider Transactions at Brighthouse Financial

In other news, EVP Myles Lambert sold 8,400 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $51.70, for a total value of $434,280.00. Following the completion of the sale, the executive vice president now directly owns 33,407 shares of the company’s stock, valued at approximately $1,727,141.90. This trade represents a 20.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John Rosenthal sold 4,265 shares of Brighthouse Financial stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $46.04, for a total transaction of $196,360.60. Following the sale, the executive vice president now directly owns 86,262 shares in the company, valued at $3,971,502.48. The trade was a 4.71 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Brighthouse Financial Profile

Brighthouse Financial, Inc provides annuity and life insurance products in the United States. It operates through three segments: Annuities, Life, and Run-off. The Annuities segment consists of variable, fixed, index-linked, and income annuities for contract holders’ needs for protected wealth accumulation on a tax-deferred basis, wealth transfer, and income security.